Latest news with #DowntownDubai
Hospitality Net
3 days ago
- Business
- Hospitality Net
Sasindu Don has been promoted Director of Finance at Sofitel Dubai Downtown
In the ever-evolving symphony of Sofitel Dubai Downtown, a new crescendo has been reached. With quiet determination and a mind sharpened by precision, Sasindu Don has journeyed from Financial Controller to Director of Finance, orchestrating success with the kind of clarity and calm that defines true leadership. Since joining the luxury property in the heart of Downtown Dubai 7 years past, Sasindu has been the silent force behind its financial finesse. Under his stewardship, the hotel has seen record-breaking gross operating profit, a streamlined procurement process that trimmed costs without compromising luxury, and the implementation of a real-time forecasting model that transformed the decision-making landscape across departments. But numbers alone don't capture Sasindu's legacy. A respected collaborator and mentor, he introduced dynamic reporting tools that empowered department heads with greater financial autonomy, building bridges between finance and operations in a way that felt both modern and human. His ability to balance bottom-line focus with top-tier guest experience made him not just a financial steward, but a true custodian of the brand's soul. In his new role, Sasindu will continue to chart the financial future of Sofitel Dubai Downtown, aligning commercial strategy with the hotel's audacious spirit and refined elegance. He will oversee forecasting, budgeting, compliance, and investment strategy, with an eye on long-term growth and resilience. With this new chapter, Sofitel Dubai Downtown reaffirms its belief in cultivating talent from within, honouring those who don't just manage luxury, but who live it.
Khaleej Times
06-06-2025
- Business
- Khaleej Times
UAE: How to own a stake in property for as little as Dh500
Buying property in some parts of the UAE has become out of reach for many people, but there are solutions. One option is to buy a portion of the space instead of the whole thing. This is known as fractional ownership and thanks to technology, it has become cheaper and more transparent. Companies like Stake and SmartCrowd offer investors the chance to buy small stakes in properties from around Dh500. For example, Stake currently has six properties available to invest in, including a one-bedroom apartment in Downtown Dubai, with a projected net yield/income of 5.1 per cent. Recently, we saw the launch of a new type of fractional property ownership called real estate tokenisation. When you buy a portion of a property, it's recorded on the blockchain, and you get a digital token to prove ownership. The platform is called Prypco Mint and it's a collaboration between property company Prypco and the Dubai Land Department (DLD). Matt Blom, co-founder at Tokinvest, said: 'Fractional ownership opens the doors of real estate investing to a broader, more diverse pool of investors. Traditionally, property investment required significant capital and often came with geographic or legal barriers. But with fractional models, especially those powered by blockchain and tokenisation, investors can access high-quality, income-generating assets at a fraction of the cost.' Prypco Mint's first listed property — a two-bedroom apartment in Damac Prive Tower in Dubai's Business Bay — was fully funded within a day. It attracted more than 200 investors from over 40 nationalities, with an average investment of Dh10,714. Following the platform's strong debut, multiple developers have shown interest in listing their properties. The platform currently has a waiting list of more than 6,000. How it works Through the Prypco Mint platform, investors can buy small shares, or fractions, of premium Dubai properties, with a minimum investment of Dh2,000. These shares, which are in the form of digital tokens, can earn returns through both rental income and rising property values. At the moment, the scheme is only open to UAE residents with an Emirates ID, but there are plans to open it up to international investors in the future. All transactions are done in UAE dirhams and no cryptocurrency is involved during this trial phase. Investors will get full access to detailed information about the properties, including pricing, risks, and minimum investment amounts. Toby Young, a Dubai-based digital assets strategist, said: 'The scheme is aimed at anyone and everyone assuming they meet the minimum investment criteria. The idea behind fractionalising real estate is to democratise ownership and make assets available to everyone, not just the select few.' Raising the Stakes The DLD/Prypco pilot scheme is along the same lines as that of Stake, a private company that was set up in 2021 and which has been at the forefront of fractional property ownership. It allows people to invest as little as Dh500 to own a fraction of a property. It has already funded more than 400 properties worth more than Dh1 billion in transactions. Rami Tabbara, co-founder and co-CEO at Stake, said that fractional ownership can often be a difficult concept to explain to people. 'It's a new concept for many. People naturally associate real estate with full ownership, large sums of money, and mountains of paperwork. But when we explain it as buying shares in a property, just like you'd buy shares in a company, it starts to make sense.' On Stake's app, there are only six properties currently available to invest in. Why such a low number? 'We prioritise quality over quantity. Every property goes through a strict underwriting process, and only the best listings and the best yielding opportunities make it to Stake,' Tabbara explained. Returns Stake's yearly investment returns average around 10 per cent, but this drops to a projected net yield (after costs have been taken into account) of around 5 per cent a year. Stake said it has been in active discussions with both the DLD and Dubai's digital assets regulator VARA to align its platform with the new regulatory framework around tokenised real estate. Tabbara expects his company to participate in the second phase of the pilot programme, which is scheduled to go live in the second half of this year. DLD said $16 billion (Dh58.7 billion) worth of real estate could be digitised by 2033. What about the DLD/Prypco pilot project's returns? The first property offered was sold at a discount to attract buyers, which equates to a higher yield. Returns on future properties will depend on the selling price, usage of the property, and whether it is a short- or long-term rental. 'That said, typical net yields are between 6-8 per cent after the aforementioned has been taken into account. I would expect similar new returns, with a few outliers above and below that range,' Young added. Investors also need to bear in mind that there may be a lock-up period for their investment. Innovation Dubai is making a name for itself as a leading crypto and blockchain hub, along with being a pioneer of real-world asset (RWA) tokenisation of property. The Prypco and DLD property platform means that a young professional in Dubai can invest in a prime villa or luxury apartment without the complexity or cost of full ownership. 'This isn't just innovation for innovation's sake. It's a structural shift in how wealth can be built and shared,' added Tokinvest's Blom. 'Fractional investment creates liquidity, flexibility, and access, which have been barriers in traditional real estate investing. With lower entry points, more people can participate, which in turn leads to (hopefully) increased capital flow into the sector.' The launch of the government-backed real estate tokenisation project and the success of platforms like Stake show the huge demand for this type of innovative property ownership. But as more properties are bought up by companies for fractional ownership, it could lead to higher prices in the property market. 'It's a valid concern, and one we take seriously. When more capital flows into real estate, demand can increase, which could potentially put upward pressure on prices. But it's important to look at the bigger picture,' said Blom. 'The goal isn't to inflate markets, it's to broaden access and enable more efficient use of property assets. If managed responsibly, tokenisation and fractional investing can help smooth the peaks and valleys of global real estate, not exacerbate them.' Vanessa Bayma, the founder of CBC Consultancy and Events, has invested in two fractional properties using Stake. Currently, she is getting a 6 per cent return with rental income. 'We were interested in crypto investing but found it volatile. And didn't have enough money to own properties outright,' she explained. She is interested in making more fractional property investments. 'Sometimes people are bedazzled by short-term investments such as crypto or volatile stocks. My father always said that real estate is the safest investment. Granted, we can't afford to buy full properties, but this style of investment allows us to diversify.'
Zawya
04-06-2025
- Business
- Zawya
Cloud Spaces opens largest workspace at Downtown Dubai
Cloud Spaces, a leading provider of flexible fully furnished workspace in UAE, has announced the opening of its biggest location at Dubai Mall Fountain Views. This marks the sixth Cloud Spaces location in the GCC, and the second in Dubai, as the brand expands its footprint in response to the region's rising demand for dynamic, hospitality and design-led work environments. Cloud Spaces Dubai Mall Fountain Views is strategically situated in the heart of Downtown Dubai, offering views of the Burj Khalifa and direct access to world-renowned retail, dining, and business destinations. More than just a workspace, Cloud Spaces Dubai Mall Fountain Views has been envisioned as a sanctuary for ambition and a place where creativity, collaboration, and growth emerge. From fully serviced private offices and semi-private offices to podcast studios, meeting rooms and collaborative coworking lounges, the space has been designed to enhance productivity and elevate the work life balance, it stated. "The launch of our Dubai Mall Fountain Views represents a defining moment for Cloud Spaces as we continue to reshape the future of work in the region," remarked Malak Smejkalova, the Senior Director at Cloud Spaces. "This marks our fifth location in the UAE, with four more in the pipeline, and follows the successful opening of our first international hub at Kingdom Centre in Riyadh in March," stated Smejkalova. "Our expansion reflects the growing demand for flexible, design-forward work environments that combine hospitality, convenience, and community, and we're proud to meet that need at the heart of Downtown Dubai," she added. One of the standout features that is exclusive to the Dubai Mall Fountain Views is its fully equipped, soundproof podcast studio. Purpose-built for high-quality podcast recording, this state-of-the-art space is designed to meet the needs of today's content creators and forward-thinking businesses. Fully stocked with industry-leading technology and available on a flexible booking model, the studio provides a stylish environment for impactful content production, making it a key attraction for those looking to record professional-grade podcasts with ease. "Driven by a hospitality-first approach, members will get to enjoy concierge-level service, premium amenities, and a collaborative community," said Smejkalova. A fully equipped auditorium offers an ideal setting for corporate gatherings, product launches, and networking events, with a dedicated events team ensuring every occasion is seamlessly executed. A range of meeting spaces is also available, including high-end majlis lounges, private meeting rooms, and boardrooms, perfectly designed to accommodate various group sizes and formats, she explained. These spaces are equipped with advanced technology, comfortable seating, and ergonomic elements to foster productivity and creativity. Enhancing the premium workspace experience, flexible membership options, Ejari registration, and business setup services provide exceptional convenience for both entrepreneurs and established companies, she added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
03-06-2025
- Business
- Trade Arabia
Cloud Spaces opens largest workspace at Downtown Dubai
Cloud Spaces, a leading provider of flexible fully furnished workspace in UAE, has announced the opening of its biggest location at Dubai Mall Fountain Views. This marks the sixth Cloud Spaces location in the GCC, and the second in Dubai, as the brand expands its footprint in response to the region's rising demand for dynamic, hospitality and design-led work environments. Cloud Spaces Dubai Mall Fountain Views is strategically situated in the heart of Downtown Dubai, offering views of the Burj Khalifa and direct access to world-renowned retail, dining, and business destinations. More than just a workspace, Cloud Spaces Dubai Mall Fountain Views has been envisioned as a sanctuary for ambition and a place where creativity, collaboration, and growth emerge. From fully serviced private offices and semi-private offices to podcast studios, meeting rooms and collaborative coworking lounges, the space has been designed to enhance productivity and elevate the work life balance, it stated. "The launch of our Dubai Mall Fountain Views represents a defining moment for Cloud Spaces as we continue to reshape the future of work in the region," remarked Malak Smejkalova, the Senior Director at Cloud Spaces. "This marks our fifth location in the UAE, with four more in the pipeline, and follows the successful opening of our first international hub at Kingdom Centre in Riyadh in March," stated Smejkalova. "Our expansion reflects the growing demand for flexible, design-forward work environments that combine hospitality, convenience, and community, and we're proud to meet that need at the heart of Downtown Dubai," she added. One of the standout features that is exclusive to the Dubai Mall Fountain Views is its fully equipped, soundproof podcast studio. Purpose-built for high-quality podcast recording, this state-of-the-art space is designed to meet the needs of today's content creators and forward-thinking businesses. Fully stocked with industry-leading technology and available on a flexible booking model, the studio provides a stylish environment for impactful content production, making it a key attraction for those looking to record professional-grade podcasts with ease. "Driven by a hospitality-first approach, members will get to enjoy concierge-level service, premium amenities, and a collaborative community," said Smejkalova. A fully equipped auditorium offers an ideal setting for corporate gatherings, product launches, and networking events, with a dedicated events team ensuring every occasion is seamlessly executed. A range of meeting spaces is also available, including high-end majlis lounges, private meeting rooms, and boardrooms, perfectly designed to accommodate various group sizes and formats, she explained. These spaces are equipped with advanced technology, comfortable seating, and ergonomic elements to foster productivity and creativity.
Grazia USA
03-06-2025
- Entertainment
- Grazia USA
The GRAZIA Dubai Long Weekend Guide For Eid Al Adha: June 5 to 9, 2025
Photo: @dayanenassour Instagram This weekend, the world will be celebrating Eid Al Adha, and naturally, Dubai is the place to be to ring in the occasion. For those in the UAE, residents will get to enjoy a four-day break holiday, which means you have ample time to indulge in Dubai's best offerings of exclusive escapes. Whether you're in search of a new Michelin to dine in, or perhaps a staycation for that R&R energy, the GRAZIA team has scoured the city for the best things to do during the long Eid Al Adha weekend. From London to Dubai Photo: Supplied If you haven't already, this long weekend is the time to try the renowned Cantonese restaurant founded by the legendary businessman David Tang in London, which officially opened its doors in Dubai last month. Located at The Lana Promenade, China Tang's debut in the emirate recalls traditional and refined Chinese dining and its hallmark dishes, in addition to its new creations for the UAE. Celebrate eid at tatel dubai This Eid Al Adha, TATEL Restaurant, situated in Downtown Dubai, invites you to its three-day celebration for a burst of Spanish flavours. Here, bringing the vibrant spirit of Spain right to your table, TATEL's exquisite live stations such as the Cecina and Oyster take the spotlight as you can watch the chefs create the fresh tantalising dishes. Not settling for less, Tatel invites you to dine in and indulge in its a la carte menu. From June 5 to June 8, 2025 R&R at St. Regis Downtown Dubai This weekend, you need to spend some much-needed downtime at one of Dubai's top staycation spots, St. Regis Downtown Dubai. Of course, no weekend is ever complete without some R&R. At the St. Regis Downtown, your stay comes complete with some rituals. Whether you opt for a stress-relieving massage or an opulent aromatic cherry blossom scrub and massage, has you sorted. Try a new restaurant From London to Doha to Dubai, meet the city's newly acclaimed restaurant that deserves to be on your Eid Al Adha bucket list, Jamavar. Home to the most tantalising mixtures and flavours of Indian haute cuisine, Jamavar boast plush interiors, opulent decor and equally stunning platters crafted with balance and harmony in mind. Staying true to its Michelin-starred origins, this restaurant, located at the Dubai Opera, brings treasured recipes from India to Dubai. Start your Pilates journey at home Pilates, the Dubai-favourite mind-body exercise, just became even better with the arrival of Fold Reformer, an innovative concept where you can start your pilates journey in your abode. Perfect for the homebody who prefers to stay indoors without the hassle of travelling, FOLD reformer is officially available to buy a state-of-the-art Pilates bed via Ninjoo. The ultimate Eid escape guide Photo: @ Instagram For those looking to jet set further afield, the GRAZIA team has curated a list of renowned go-to resorts and exclusive escapes. Whether you opt to sunbathe in the warm yet breezy climes of Greece, or an indulging wellness retreat in the Maldives, or perhaps choose to stay close to the region with an exceptional private escape in Morocco, this list has you covered. A weekend at Jumeirah Marsa Al Arab The newest hotspot in the city remains unrivalled, boasting top-notch restaurants, beauty, and wellness spots. Here, you have a slew of unapologetic options to dine and experience world-class hospitality. From the izakaya-style restaurant Umi Kei, the go-to gourmet spot The Cullinan, or a beauty refresh with colour aficionado and hairstyling connoisseur Limoz Logli. Read more here. topics: Dubai Weekend, GRAZIA weekend guide, Dubai Weekend Guide, EID AL ADHA, Eid Al Adha 2025, Eid AL Adha break, going out, Going out in Dubai, Dubai best restaurants, LIFESTYLE, UAE
